Deutsche Bank AG Sells 144,467 Shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN)

Deutsche Bank AG cut its stake in shares of Terns Pharmaceuticals, Inc. (NASDAQ:TERN - Free Report) by 26.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 398,379 shares of the company's stock after selling 144,467 shares during the period. Deutsche Bank AG owned approximately 0.47% of Terns Pharmaceuticals worth $2,207,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Landscape Capital Management L.L.C. bought a new position in Terns Pharmaceuticals during the 4th quarter worth approximately $73,000. Townsquare Capital LLC acquired a new stake in Terns Pharmaceuticals in the fourth quarter worth $76,000. Oxford Asset Management LLP bought a new position in shares of Terns Pharmaceuticals during the fourth quarter worth $86,000. Savant Capital LLC bought a new position in shares of Terns Pharmaceuticals during the fourth quarter worth $89,000. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Terns Pharmaceuticals by 33.1% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,010 shares of the company's stock valued at $100,000 after buying an additional 4,475 shares during the period. 98.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TERN shares. JMP Securities reissued a "market outperform" rating and set a $20.00 target price on shares of Terns Pharmaceuticals in a research note on Monday, April 21st. BMO Capital Markets reduced their price target on shares of Terns Pharmaceuticals from $26.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, May 13th. Finally, William Blair reissued a "market perform" rating on shares of Terns Pharmaceuticals in a research report on Friday, March 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $15.63.

Terns Pharmaceuticals Stock Performance

Terns Pharmaceuticals stock traded up $0.14 during midday trading on Wednesday, reaching $3.15. The stock had a trading volume of 100,989 shares, compared to its average volume of 1,526,016. Terns Pharmaceuticals, Inc. has a 1-year low of $1.87 and a 1-year high of $11.40. The firm's fifty day simple moving average is $2.80 and its 200-day simple moving average is $4.26. The stock has a market capitalization of $275.11 million, a P/E ratio of -2.65 and a beta of -0.16.

Terns Pharmaceuticals (NASDAQ:TERN - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.03. On average, sell-side analysts anticipate that Terns Pharmaceuticals, Inc. will post -1.19 earnings per share for the current fiscal year.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops small-molecule product candidates for the treatment of oncology, metabolic dysfunction-associated steatohepatitis (MASH), and obesity. The company develops TERN-701, an allosteric BCR-ABL tyrosine kinase inhibitor (TKI) that is in phase 1 clinical trial for chronic myeloid leukemia (CML), a form of cancer that starts in bone marrow.